Moratorium
Learn more about debt relief through Moratorium in Scotland
What is a Moratorium?
Moratorium is a period of debt relief for residents of Scotland which means creditors cannot take any action against you for debts you owe them. If you are thinking of applying for Bankruptcy, a Trust Deed or Debt Arrangement Scheme (DAS) and require more time to think things over, but are concerned about what your creditors could do in the meantime, you could request a moratorium.
You apply for a moratorium though the Accountant in Bankruptcy (AiB) who will register this on the Register of Insolvencies and the DAS Register. From this date you will have six months to decide if you want to proceed with an application. If you are granted a Trust Deed or Bankruptcy then any interest, fees or charges will either be settled or written off once completed. Under DAS, these will be written off on completion of the debt payment programme.
You can only apply for one moratorium in a 12 month period.
A moratorium is available for residents of Scotland. If you live in England or Wales, the equivalent solution is Breathing Space.
Solutions for unsecured debts
Debt solutions can help with many unsecured debts including:
Council Tax Arrears, HMRC debt & benefits overpayment
Payday loans, bank loans & overdrafts
Credit cards, store cards & catalogues
Bailiff Enforcement & Debt Collector Action
County Court Judgments (CCJs) & Attachment of Earnings
Creditors in the UK
Overcome problem debt with major creditors in the UK including:
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Service you can trust
We pride ourselves on delivering the highest level of service to help people find a solution to overcome problem debt.
Read real reviews of our service on Trustpilot.
Start your journey today and see which solution suits your needs.
Speak to a debt help expert now on 0161 823 4974 or complete the form to book a call back.
They helped us immensely throughly would absolutely recommend them.
C Garrard, Trustpilot 5*
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Free debt counselling, debt adjusting and providing of credit information services is available. You can find out more by contacting Money Helper.
Free debt counselling, debt adjusting and providing of credit information services is available. You can find out more by contacting Money Helper.